The two-day decline in the spot prices of gold and silver came to an end today. On Friday, today, 24 carat gold opened above 51000 in bullion markets across the country. However, the condition of silver remained weak this morning. Silver later rebounded and closed at Rs 64437 per kg. Gold opened at Rs. 16592 per 10 grams, and opened at Rs. 51092, higher by Rs. 179 and closed at Rs. 51106.
According to the India Bullion and Jewelers Association website (ibjarates.com) on 4 September 2020, the gold and silver spot prices across the country remained as follow.
September 5 final rate
Gold spot in the international market rose 0.36 percent to $ 1937.56 an ounce. US gold futures gained 0.29 percent to $ 1935.20 an ounce. Silver spot in the global market was up by 0.58 per cent at $ 26.78 an ounce. In the domestic futures market Multi Commodity Exchange (MCX), gold gained 0.22 percent to Rs 50857 per ten grams. Sona Mini rose 0.23 percent to Rs 50,942 per ten grams. Similarly, Silver gained 0.38 percent to Rs 67180 per kg and Silver Mini rose 0.37 percent to Rs 67198 per kg.
Morning rate
Explain that the rate issued by IBJA is universally accepted. However, GST has not been included in the rate given on this website. When buying and selling gold, you can refer to the rate of IBJA. According to Rajesh Khosla, media in-charge of the India Bullion and Jewelers Association Delhi, ibja shows the average price of gold and silver from 14 centers across the country. Khosla says that the current rate of gold-silver or, say, the spot price may be different at different places but there is a slight difference in their prices.
